Seasons Greetings
From our International Arbitration team
Dear Friends and Colleagues
As the festive season approaches, we have a special gift for you: our personal pick of the top 10 International Arbitration developments across the globe this year......Introducing Mayer Brown's Festive List!
The International Arbitration landscape remains a fast-paced and complex one and we are proud to work alongside you to navigate such interesting and challenging matters. We wish you an enjoyable festive season and look forward to working with you in 2025.
Mayer Brown's Festive List
(1) UniCredit v. RCA: UK Supreme Court decision
The decision affirms the power of the English courts to protect arbitration agreements ("AA") governed by English law through the issue of anti-suit injunctions ("ASI"), where parties breach their contractual obligations to arbitrate disputes. We explore the key takeaways from the case - which is the leading authority on ASIs for foreign-seated AAs – focusing on the jurisdictional basis for ASIs, as well as the underlying policy framework. We also explore how the Arbitration Bill will change the position in UniCredit.
(2) Arbitration Amidst Adversity
In May 2024, we launched our new interview series, hosted by Volodymyr Yaremko, which delves into the experiences of women in arbitration navigating the challenges (and opportunities) they face while living through the Russian invasion of Ukraine. We captured the personal stories of three remarkable Ukrainian women: Svitlana Romanova(Chief Legal Officer at Metinvest), Olena Perepelynska (Partner and Head of Arbitration at Integrities), andTatyana Slipachuk (Special Advisor at Sayenko Kharenko).
The UK Arbitration Bill is now being debated in the House of Commons and could be enacted by the end of 2024. We explore the latest amendments to the Bill since it was re-introduced by the Labour government in July 2024. Our Arbitration Act Insights page also went live this year enabling you to follow our detailed commentary on the contents of, and passage of, this bill.
(4) Heirs to the Sultanate of Sulu v Malaysia
The Paris Court of Appeal ordered the suspension of set-aside proceedings initiated against the final award rendered in a dispute between the two parties, pending the French Court of Cassation's decision on a challenge to enforcement of an earlier partial award on jurisdiction in the same arbitration proceedings. This decision highlighted the discretion of the French courts to stay concurrent proceedings, in the interest of procedural economy and good administration of justice, pending the outcome of the first.
2024 saw the opening of the new Abu Dhabi International Arbitration Centre (branded "arbitrateAD"), replacing the previous Abu Dhabi Commercial Conciliation and Arbitration Centre ("ADCCAC"). We summarised 12 key features of ArbitrateAD's new Arbitration Rules, which apply to cases filed with ArbitrateAD on or after 1 February 2024, together with guidance for parties in the region.
(6) Singaporean Conditional Orders
In Voltas Ltd v. York International Pte Ltd [2024] SGCA 12, the Singapore Court of Appeal held that (i) an award containing conditional orders could be regarded as a final award that disposed of all remaining claims in the arbitration and (ii) any reservation of jurisdiction in an otherwise final award must be made expressly. This case highlights the importance of tribunals and parties ensuring that an award contains an express reservation of jurisdiction, where it is intended that the tribunal will retain jurisdiction to decide future issues.
(7) Russia: Investment Protection and Arbitration
In our newly launched Series, we explore topics focused on the recourse available to international investors who have suffered losses in Russia or Ukraine due to Russia's invasion of Ukraine. We cover: the US Government's Business Advisory about maintaining Russian operations, the launch of the Register of Damage for Ukraine, the Russian Decree providing for confiscation of US-related assets, the impact of Russian law changes and sanctions on dispute resolution, and navigating arbitrator appointments caught in geopolitical crossfire.
(8) New York court upholds lakah award
An October 2024 decision by the United States District Court for the Southern District of New York marks the end of the Lakah brothers' challenges to resist being held personally liable under arbitration agreements in Eurobond documents; their unsuccessful appeal highlights that corporate veil piercing remains a powerful tool in New York-seated arbitrations.
(9) Mexico & Honduras- Developments impacting foreign investors
Mexico's controversial judicial reforms, which took effect on 1 October 2024, have injected aconsiderable level of uncertainty into the Mexican legal landscape. We explore its likely impacts, including: increased risk of investment disputes and trade disputes under the US-Mexico-Canada Agreement plus ramifications for sectors reliant on foreign investment. Separately, following Honduras' denouncement of the ICSID Convention in February 2024, we recommend that investors with investments in Honduras who have potential claims should quickly analyse their options. We outline potential options for investors.
(10) HKIAC's Revised Administered Arbitration Rules
HKIAC updated their flagship Administered Arbitration Rules, effective from 1 June 2024. Key changes include: aligning the consequential effect of proper commencement of a single arbitration under multiple contracts with a decision to consolidate two+ arbitrations, powers enabling HKIAC and tribunals to enhance the efficiency of arbitration, making diversity a consideration for appointments, widened scope for electronic communication and new provisions on information security, environmental impact and costs.
Visit us at mayerbrown.com
Mayer Brown is a global services provider comprising associated legal practices that are separate entities, including Mayer Brown LLP (Illinois, USA), Mayer Brown International LLP (England & Wales), Mayer Brown (a Hong Kong partnership) and Tauil & Chequer Advogados (a Brazilian law partnership) and non-legal service providers, which provide consultancy services (collectively, the "Mayer Brown Practices"). The Mayer Brown Practices are established in various jurisdictions and may be a legal person or a partnership. PK Wong & Nair LLC ("PKWN") is the constituent Singapore law practice of our licensed joint law venture in Singapore, Mayer Brown PK Wong & Nair Pte. Ltd. Details of the individual Mayer Brown Practices and PKWN can be found in the Legal Notices section of our website. "Mayer Brown" and the Mayer Brown logo are the trademarks of Mayer Brown.
© Copyright 2024. The Mayer Brown Practices. All rights reserved.
This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.
